The divestment of Bharat Petroleum Corporation (BPCL) may hit a fuel price hurdle, according to officials dealing with the matter. They pointed out that the inconspicuous administered price regime could hamper the prospects for potential buyers of BPCL. A senior oil ministry official said public-sector oil-marketing companies (OMCs) take a hit when they sell petrol, diesel, and liquefied petroleum gas (LPG), three of the most popular petroleum products in the country.
Around 15 years ago, when Reliance Industries (RIL) struck natural gas in the Krishna-Godavari (KG) basin off the east coast, the government made plans to supply that fuel cheaply to scores of generators that sprang up in India triggered by the discovery. Most of the plants, which account for 6 per cent of India's total generation capacity, operate sparsely after the KG-D6 area first failed to meet production targets, and then finally shut shop. Affordable domestic gas was why those thermal plants came up and the rate of the fuel today is why those generators hardly operate. Record liquefied natural gas (LNG) rates may yet again unravel India's ambitions to expand use of gas in industries, households and vehicles. Rates, while volatile, may stay strong this decade as developed nations with higher purchasing power embrace gas as the transition fuel.
India's biggest firm, Reliance Industries, has decided to cut salaries by 10 per cent in its oil and refining divisions. Several smaller companies like Kajaria Ceramics have followed suit with cuts as high as 40 per cent for those earning more than Rs 50 lakh.
RBI is expecting the rupee to stay close to Rs 75 to a dollar, as COVID-19 forces foreign funds to withdraw from emerging markets.
Sukanya Verma looks at the fashionistas of the OTT world.
Sharp improvement in refining margin is expected to be the prime driving force.
One of the reasons is that the retail prices are not bench-marked to crude but their respective international benchmark prices.
'An armed helicopter equipped with counter-drone systems will provide the airborne counter-drone capability and flexibility needed to protect India's critical assets.'
Revenue was also boosted by robust growth in retail business which recorded a 73.6 per cent increase to Rs 11,571 crore
As a venture partner, DVP said that Neemuchwala would be bringing deep technology expertise and invaluable experience of building businesses.
Tehran plans to lift exports by 500,000 barrels per day
Reliance Industries will sell 20 per cent stake in its oil and chemicals business to Saudi oil giant Aramco for about $ 15 billion and nearly half of its fuel retail business to BP of UK for Rs 7,000 crore. Aramco, the world's biggest crude exporter, will also supply Reliance's twin-refineries at Jamnagar in Gujarat with 7,00,000 barrels of oil a day on a long-term basis, Ambani said.
Diesel makes up nearly half of fuel demand in Asia's No 3 economy.
The sale is key to meeting the government's disinvestment target of Rs 2.1 trillion in the financial year 2020-21. So far, the disinvestment exercise has fetched the government Rs 34,845 crore during the current financial year.
The US spent $1.5 million a day since 2001 fighting the opium war in Afghanistan. After hundreds of airstrikes failed to curtail the Taliban's $200-million-a-year opium trade, the US military quietly ended the campaign when the Trump administration officials engaged in direct peace talks with the Taliban, notes Atanu Biswas.
BPCL's impending privatisation and RIL's stake sale to Saudi Aramco raise questions about the future of the West Coast Refinery, once touted as the world's largest.
In the last 3 months, rupee has depreciated 16% against dollar.
Karan Narsu rides the quirky new Honda Cliq to find out if it's got the goods to go all the way in rural India, while also making it a viable option for the city-sleeker
Benchmark Brent oil futures prices more than halved between June 2014 and January 2015.
The uptick in prices ranging from steel to wheat could benefit lots of commodity-based companies -- from State-owned SAIL to the agro exporters.
Have you heard of the 'chillow' that can cool your pillow? Or the 'bedroom plant'?
At the same time, the Cabinet approved reducing government's stake in select PSUs such as IOC to below 51 per cent while continuing to retain management control.
Welcome to Non-Fungible Tokens (NFT) - digital constructs authenticated using an abstract mathematical application. An NFT is a unique token added to some digital construct and registered on a blockchain with details of ownership. The construct itself might be free (it often is) but the NFT along with the construct is worth "more". The NFT market didn't exist until 2017 when "cryptokitties", or virtual cats, became available with NFTs. The market is now worth around $350 million. Speculators believe it is likely to be worth much more in future.
The finance minister chaired a meeting through video conference with major private banks and NBFCs to ensure effective rollout of ECLGS and uninterrupted liquidity to Indian MSMEs in this difficult time.
RIL officials had then termed the deal a "win-win" for both the companies. It's an irony that the termination of the agreement was also hailed as a "win-win" by RIL in informal briefings with the media today. When reminded about this, an RIL official shrugged and said "nothing is constant in business."
Investment by US PE firm KKR will add fire to Ambani's battle for dominance in the retail market that is also being eyed by Jeff Bezos' Amazon and Walmart's Flipkart.
From winning the Under-19 World Cup to becoming Test captain, Virat Kohli has made rapid strides in international cricket. Pradeep Sangwan, his team mate from junior cricket, writes about the man they fondly call 'Cheeku'
The company will raise $1.8 billion for the under construction and contracted portfolio of 12 GW, which includes the country's first manufacturing-linked solar power plant of 8 GW.
For one, triangles are involved.
Iran has complained of irregular shipments
State run refineries stand to gain as govt raised the FDI limit to 49 per cent from 26 per cent.
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India's trade deficit widened to $20.1 billion in May because of high gold imports while exports declined by over a per cent, raising concerns about economic recovery.
Mini Ribeiro tells you how to make the most of winter spices.
Exercise Tiger Triumph -- a full-scale, tri-service beach landing operation -- is a capability India is seeking to build.
Government allows duty-free import of 500,000 tonnes raw sugar till June 12. At present, India levies an import duty of 40% on sugar
Government's fuel subsidy estimate was based on crude oil at $70.
The party is less forthcoming about who the chief minister will be if it stays in power.
While players like Paytm, MobiKwik, and PhonePe allow you to buy gold for Rs 1, Amazon Pay has kept the minimum amount at Rs 5. Digital gold is essentially an avenue for investing in physical gold.
Valuers have found almost no assets to pay for their claims against the Videocon group that entered the insolvency process in 2018. But the dissenters suggest that the money is elsewhere, possibly in the group's oil and gas assets, which are not part of the group's bankruptcy case.
The govt is increasing the duty to 15 per cent from the existing 10 per cent.
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